The Central Problem of Economics The central problem of economics is to satisfy the people's and nation's wants.1 L6 h l" c: {- _: ]3 G6 P
The problem we are faced with is that our resources, here identified as money, are __1__. The only way we can resolve our problem is to make choices. After looking at our resources, we must examine our list of __2__ and identify the things we need immediately, those we can postpone, and __3__ we cannot afford. As individuals, we face the central problem involved in economics-deciding just how to allocate our limited our limited resources to provide __4__ with the greatest satisfaction of our wants.; O1 a$ u& {( @- y3 t
Nations face the same problem. As a country's population ___5__, the need for more goods and services grows correspondingly. Resources necessary to production may increase, but there __6__ are enough resources to satisfy the total desires of a nation. Whether the budget meeting is taking place in the family living room, in the conference room of the corporation __7__ of directors, or in the chamber of the House of Representatives in Washington, the basic problem still exists. We need to find __8__ of allocating limited resources in order to satisfy unlimited wants.
4 W2 v6 @6 q) K7 B+ H A. [* j A short time ago economists divided goods into two categories, free and economic. The former, like air and water, were in __9__ abundance that economists had no concern for them. After all, economics is the __10__ of scarcity and what to do about it. Today many of these “free goods” are __11__ very expensive to use. Pollution has made clean air and water expensive for producers' extra costs, and __12__ taxpayers who pay for the government's involvement in cleaning the environment.
/ J' {0 j# g! R In the 1990s, almost all goods are __13__. Only by effort and money __14__ obtained in the form people wish.
% r$ W- N' |$ R, o0 O9 V9 F2 h Meeting needs of people and the demands from resource available __15__ the basic activity of production. In trying to meet unlimited wants from limited economic goods, production leads to new problems in economics., k% x: `! W' F9 i7 X
EXERCISE:: ?. t' y) g# K! c$ r5 M2 Q+ p
1. A) limited B) unlimited C) scarcity D) abundant
8 J! p( b& y. z- E2 P 2. A) want B) problem C) wants D) resources
$ T5 O; E0 ]4 m) J9 s. } 3. A) those B) some C) others D) many
( u# z- i, k2 j$ k! ` 4. A) them B) themselves C) ourselves D) ours
8 `! {! `( F* V6 u( _ 5. A) expand B) extends C) grows D) increase& E1 Y+ u& o- W5 e
6. A) always B) sometimes C) often D) never
, V4 q9 o5 ^. Y 7. A) management B) function C) board D) group. c1 p: k+ x1 Z J
8. A) people B) economists C ) way D) methods
2 J+ Y. ~3 a6 S; { B1 R 9. A) so B) great C) such D) such an2 d! F ^' L! J* s/ N3 O
10. A) form B) study C) means D) source
8 R+ S+ o! z- J0 J 11. A) practically B) in practice C)in reality D) practicably
( v, e6 d9 i. \6 | 12. A) the B)/ C) for D) with来自www.Examw.com4 R* ~! b* l8 l# W6 P9 q( f1 q" E
13. A) plentiful B) scarce C) abundant D) in full supply% ]& n x0 B5 V" ?9 X
14. A) they can be B) can they be C) they must be D) must they be
4 d7 M* S! p* x 15. A) are led to B) leads C) lead to D) leads to. l$ H. k- T; S2 a6 F m
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